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20121108
20121116
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of compromise, consensus building. >> reporter: house speaker john boehner said republicans are willing to raise revenue but only under certain conditions. >> what matters is where the increased revenue comes from and what type of reform comes with it. >> reporter: vice president bid inis certain a solution can be found. >> we're not is going over the cliff. we're determined not to go over the cliff. i think better heads will prevail. >> reporter: finding a solution in a lame duck congress could prove complicated. and that report from the congressional budget office also said if no agreement is reached the jobless rate would go up to 9.1% next year. >> susan mcginnis in washington on a friday morning. thank you so much. here in the northeast recovery from a pair of powerful storms is slow, painful and frustrating. this morning air travel in new york is expected to return to normal following wednesday's nor'easter. the storms complicated problems by superstorm sandy. thousands remain without power or heat and can't get fuel. it's so bad doctors without borders set up its ever u.s. clinic. >> repo
known as the fiscal cliff. president obama and house speaker john boehner seem to be sticking to their guns, those old noncompromising my way or the highway type guns. >> i'm not going to ask students and seniors and middle class families to pay down the entire deficit while people like me making over $250,000 aren't asked to pay a dime more in taxes. i'm not going to do that. >> the problem with raising tax rates on the wealthiest americans is that more than half of them are small business owners. >> the president says he will reject any deal that does not include asking the wealthy to pay more. that fiscal cliff is a combination of some automatic spending cuts and tax increases and economists say the country will be plunged into another recession if lawmakers don't do something by january 1st. mr. balm and speaker boehner are scheduled to meet at the white house next week. >>> because of that impending financial doom and gloom virginia's governor bob mcdonnell ordered state agencies to look into cutting their budgets by 4% and as reporter peggy fox explains, the same thing t
boehner, and create a genuine partnership. we're at a moment where we could come together as a country. the election is over. we have some huge problems. and a president who is willing to be, genuinely hope can almost always get something positively done. but he is going to have to make a decision that that is where he wants to take the presidency. which after all, he wants it, and he gets to define which kind of presidency he wants. >> is the likelihood of him trying to cooperate and reach out more so now that he didn't have to run for re-election? and one of the other key players is mitch mcconnell. what is the dynamic there do you think? >> i think the president, first time i'm talking about the mutual background on capitol hill, the president may be at a point where he has gotten obama care, which is clearly now not going to be repealed, he has created a bigger government in the direction he wants to go in. and he may want to consolidate and having lived through two solid years of not getting anything done, he may decide he doesn't want to spend four years. the odds are very high t
them that certainty right now. >> reporter: but john boehner has ball clubbed at that idea. it would take away his party's leverage in calf issues. >> there's a lot of issues on the table that need to be resolved. i laid out a reasonable framework where both parties can work together and i'm looking forward to meet at the white house on friday and begin that conversation. >> reporter: boehner and other top republicans have proposed eliminating deductions and loopholes that benefit the wealthy instead of raising their tax rates. >> we're not going to hurt our economy and make job creation more difficult, which is exactly what that plan would do. >> reporter: today the president argued closing loopholes alone won't do enough to cut the deficit. they will have that argument face to face with boehner on friday. >> one of the most frequent criticisms we've heard over the past few years from members on both side is that you haven't done enough to reach out and build relationships. are there concrete ways that you plan to approach your relationships with congress in the second term? >> look
to deficit reduction, that does not ask the wealth tow pay more taxes. speaker boehner, the republican speaker of the house, has already said that's a nonstarter. aren't we right back where we were last year? >> well, i don't think so, bob, for a am could you have reasons. first of all, i think the speaker also said he wasn't going to get into details about what he would or wouldn't accept. he didn't want to foreclose discussions, and that was a positive sign. his rhetoric has been encouraging. and i think we have also had an intervening election, and in fact the position of the president articulated friday was the position that he's articulated throughout the campaign. you look at those exit polls, and a healthy majority of americans agree with him. and that's certainly going to help him form these discussions. >> schieffer: the president won, but this was a very close victory. and it came down to those battleground states. and it was close even there. does the president feel that won a mandate? >> well, bob, on this particular issue, it wasn't close. as i said, if you look at the exi
. >> jeff: house speaker john boehner held a conference call with his members telling them compromise was needed. obama senior advisor david axelrod called boehner's congress to members encouraging. >> i think there are a lot of ways to skin this cat so long as everybody comes with a positive, constructive attitude toward the task. >> jeff: if the automatic spending cuts happen, exactly 50% of the board without fall on the pentagon. national security correspondent david martin lays out what that would mean. >> reporter: the dreaded sequestration would double the $500 billion in cuts the pentagon is already planning to make over the next decade. defense secretary panetta has not minced words about what that would mean. >> if a sequestration is allowed to go into effect it will be a disaster for national defense. >> reporter: according to panetta the new american strategy of pivoting away from the wars in iraq and afghanistan toward the pas civic and an emerging chinese superpower would come undone. >> all of thatan go to hell if this congress doesn't face up and deal with the issue of
room here because boehner has put new tax revenues on the table. so i asked the speaker today: what is the difference between rates and revenues? and he explained republicans might raise revenues by cutting tax detections. could you give us an idea, any more examples of where you're going with that? because if tax rates are not on the table, are you talking about going after deductions? >> it's clear that there are a lot of special interest loopholes in the tax code-- both corporate and personal. it's also clear that there are all kinds of deductions, some of which makes sense, others don't. >> reporter: two of the biggest deductions in the tax code are the mortgage interest tax deduction and the health insurance that workers get from their employers tax free. what boehner is suggesting was proposed by mitt romney in the campaign. essentially raising taxes on the rich by limiting what they take off their taxes. the president has dismissed this approach before because these same deductions also help the middle-class. so what we're seeing now is a classic negotiation, scott. both side
comes from and what type of reform comes with it. >> reporter: but boehner shut down the idea of targeting increasing taxes on the rich. the top democrat in senate implied any compromise would need to include the president's plan. >> there was a message sent to us by the american people based on the campaign. that is people making all this money have to contribute a little bit more. >> reporter: exit polls from tuesday show voters side with the president on the tax issue. 47% of voters said that taxes should increase for people make being more than $250,000 a year. 13% said they should increase for everyone. the administration and sources say there's speculation and they won't confirm it but likely to be a meeting between the president and congressional leaders soon maybe even next week. >> bill, thank you very much. the fiscal cliff was one of the issues behind wednesday's selloff. the dow jones industrials lost 313 points. worst day the year, the index fell below 13,000 for the first time in two months. rebecca jarvis is watching the countdown to the fiscal cliff for us. goo
the nation's debt crisis. but speak john boehner told house republicans that after last week's election a mandate from the american people is to work together, even if it means additional revenues through tax reform. meanwhile bill crystal editor of "the weekly standard" seemed to cave in on the president's demand that wealthy people pay more. >> it won't kill the country if we raise taxes a little bit on millionaires. it won't. really the republican will fall on the sword to defend millionaires half who voted democratic and half who live in hollywood. >> administration officials are already suggesting to congress that mr. obama is willing to let the deadline pass, let tax rates go up and spending be cut. if he can't get the deal he wants. >> bill plante in washington. thank you. later this morning we'll ask conservative activity jaft grover norquist if republicans are backing away from his no tax increase pledge. >> two weeks ago sandy battered the northeast. hundreds of homes and businesses have no power. most on long island. the governor of new york is calling for an investigation as
must include asking wealthiest americans to pay more taxes. house speaker john boehner disagrees. >> the problem with asking for more taxes is a lot of them are small business owners. >> they're asking from the middle class. most of them work on the more contentious issues at stake by the end of the year. >>> the airport authority got an award nobody wants. the golden hammer for the week's worst government waste. and while it controls dulles and reagan airport, billions in federal money is spent. the journal talks about free football tickets they got, side jobs and one contact that went 1700% over budget. the washington garden also -- guardian also stunned because it awarded 2-thirds of its contracts without opening up for bid. >>> president obama will travel to new york next week to check out the recovery efforts firsthand. and there he will meet with families, local officials and the first responders who have been dealing with the aftermath of super storm sandy and then the nor'easter. in new york alone, the damage could reach $33 billion. it was a pretty odd day for the folks
he wants to do is prevent the republican house speaker john boehner from setting the agenda, establishing the ground rules when it comes to negotiations over the fiscal cliff. this mix of spending cuts and tax increases that's going to kick in at the end the year. so after returning to the white house victorious you'll hear the president argue today as he did so many times on the campaign trail that household income over $250,000 a year should revert to those higher clinton era tax rates. white house aides say his victory tuesday night is a sign that the american people feel the same way so they have no intention of backing down on that issue no matter how many republicans disagree. beyond that the white house hasn't said how they plan to handle negotiations over the fiscal cliff. they have been regrouping, the president held some meetings with top aides yesterday about it and democrats on capitol hill tell me they are just waiting to hear how the white house wants to move for. there's nothing they can do until they hear from this white house. gayle and charlie we got a star
president obama he disagrees. house speaker john boehner says his party is ready to compromise when it comes to eliminating some tax loom holes and deductions -- loopholes and deductions, but raising tax homes is still off the table. >> the problem with raising tax rates on the wealthiest americans is that more an half of them are small business owners. >> reporter: the president is asking the congress to sign off on an extension of the middle class tax cuts right now while both sides work to reach an agreement on the more contentious issues. tara mergener for cbs news, the white house. >> the white house says the president will veto any bill that extends tax cuts for those making more than $250,000. >>> state and local governments are preparing for the fiscal cliff. virginia's governor directed all state agencies to identify 4% of their budget to cut out. that would affect northern virginia schools, of course, 14% of the fairfax county school budget coming from the state that. would be impacted. >> we're going to be concerned about any cut in funding given how tight our budget is. i think
speaker john boehner to compromise with president obama and avoid direct budget cuts. >> jobs, no cuts. >> reporter: more than 100 protesters. >> 47%. this is the vietnam veteran. >> reporter: organized by the group rdc. crowded the hallways outside the house speaker's office. >> i have three children. >> reporter: april thomas was homeless up until two years ago when federal help finally put her young family in an apartment in southeast. >> now i'm told that it will be a possibility that i might end up back where i came from. >> reporter: the speaker staff locked the doors. but a spokesperson says that they proposed a responsible and balanced framework to avert the fiscal cliff. bruce leshan, 9news now. >>> it was the worst oil spill in our nation's history and today bp says they will pay $4.5 billion for that deadly oil rig explosion in the subsequent massive oil leak. that money will also include more than $1 billion in criminal penalties. bp plead guilty to 12 felony charges relating to the death of those 11 workers and lying to congress about the amount of oil that was pouring int
willingness in order to compromise. the house speaker john boehner started a public negotiation with the president said. he said republicans would accept an increase in tax revenues if they're tied to tax and entitlement reform but boehner specifically rejected the way the president would raise revenues with higher taxes and upper income for americans. of course that was pictures of tim kaine that you saw there. the home -- your home is worth some more money. the median price for an existing single home jumped almost 8% in the third quarter compared to the same time last year. this is the biggest jump if six years. the report from -- in six years. the report from the national association of realtors says most cities saw some gains. >>> at&t may have been caught in a fib. the company announced a plan to cover 96% of the u.s. population with 4g lte service by the end of 2014. well, that seems to show at&t told regulators a whopper last year when fighting for the doomed t-mobile merger. the company said without t- mobile, it was very unlikely it would expand 4g lte service beyond 8
vote or not, i have listened to you. >> reporter: and the gop listened too. house speaker john boehner promised i had party is willing to get down to business. >> the republican majority here in the house stands ready to work with you to do what's best for our country. >> reporter: both side will be put to the test almost immediately. the president and congress will have to work together to overcome the looming fiscal cliff. that would involve automatic drastic spending cuts and tax increase at the end the year if no deal is reached. both sides are indicating a give and take. >> we're willing to accept new revenue under the right conditions. what matters is where the increased revenue comes from and what type of reform comes with it. >> it's better to dance than to fight. it's better to work together. >> reporter: and voters are counting on it. >>> cbs moneywatch time now on a thursday. worries about the fiscal cliff are already affecting stocks around the world. erica ferrari with more on that. >> reporter: asian markets tufbled over worries about the looming budget crisis here in the
, white house fors told me today they were encouraged by house speaker john boehner's comment yesterday about finding common ground. still, they reiterate today any deal is going to have to involve allowing those bush tax cuts to expire for household incomes over $250,000 a year. and that's something republicans adamantly oppose. the nonpartisan congressional budget office put out a report today that stayed allowing those tax cuts to expire just for top earners would constrain economic growth next year by just one-tenth of 1%. the report also showed what's at stake here if all the tax increases and spending cuts associate with the fiscal cliff are allowed to kick in, the unemployment rate will shoot up to 9.1% in 2013, from 7.9% now. that's why vice president biden predicted today the two sides will come up with a solution. >> we're not going over the cliff. we're determined not to go over the cliff. i think better heads will prevail. >> reporter: white house officials insist they have all the leverage here because all the bush tax cuts are set to expire if republicans don't compromise
speaker john boehner has balked at that idea. it would take away most of his party's leverage in fiscal cliff negotiations. >> there are a lot of issues on the table that have to be resolved by the end of the year, and i think i've laid out a reasonable framework where both parties can work together, and i'm looking forward to going down to the white house on friday and beginning that conversation. >> reporter: bainer and other top republicans have proposed eliminating deductions and loopholes that benefit the wealthy instead raising their tax rates. >> we are not going to hurt our economy and make job creation more difl which is exactly what that plan would do. >> reporter: today the president argued closing loopholes alone won't be enough to cut the deficit. he'll have that argument face to face with wayne or friday. one of the most frequent criticisms we've heard over the past few years from members on both sides if you haven't done enough to reach out and build relationships. are there concrete ways you plan to approach your relationships with congress in the second term? >> look, i
to start negotiations to deal with the issue. house speaker john boehner said he's willing to compromise on raising some taxes. >> sounds good right? compromise. have we heard that lately? vice president joe biden says the obama administration is willing to compromise as well. the cliff is an across the board tax increase in spending cuts coupled at the same time and that's scheduled to kick in at the end of the year. economists say the impact could push america into another recession. >> the no steps are taken cuttings will cost you some real none. gary nuremberg as more on the sequestration issue. >> reporter: congress couldn't get a deal to cut the deficit. going off the fiscal cliff means crashing into your home. >> if we go over the fiscal cliff, we will increase taxes by $500 billion through 2013. that's an average tax increase of $3,500 for every household in america. >> reporter: then, there is sequestration. months can months ago congress said we'll impose automatic cuts that are so bad in january, that of course we'll cut a better deal before they kick in. they havement cut a b
of the tax plan, john boehner are urging them to make compromise, something president obama senior adviser david axelrod called encouraging. >> there's money tbe gained by closing some of these loopholes and applying them to deficit reductions. >> one half of those automatic spending cuts would affect the defense department's budget. david martin shows us what that means for the military. >> reporter: the dreaded sequestration would double the $500 billion in cuts the pentagon is already planning to make over the next decade. defense secretary panetta has not minced words. >> if sequestration goes into effect it's a disaster for national defense. >> reporter: the strategy of pivoting away from the wars in iraq and afghanistan towards the pacific and an emerging chinese superpower would come undone. >> all of that can go to hell if this congress doesn't face up and deal with the issue of sequestration. >> reporter: in this letter to senators panetta warned by the time sequestration was over the u.s. would have the smallest ground force since 1940, smallest navy since 1915 and smallest air f
? >> that's staggering. all right, thank you. speaker boehner favorites simplifying the tax codes by limiting the number ofexemption. it's one day after about 100,000 people took to the streets and protest. the demonstrators tried to stop the lawmakers from passing a new round of budget cuts. but they back up the measures to save them from bankruptcy. they fired the water canyons with the demonstrators. it was the biggest rally there in over a year. and stocks flipped again in this country. while it was not as dramatic as yesterday, investors, they are still concerned about the potential for gridlock. but they finished the day down 120 points to close at 12,811. >> all right, not too bad out there. a little sunshine, which is the big view as you would say. >> and things to come over the weekend, right? >> yes, it is. it looks warmer than what it was. up to 30 miles an hour that made it look cooler, but they would die down tomorrow and they will be on the way. >> yes, that's what i thought. we're looking at really, pretty much the clear skies. and the temperatures, 52. dew point at
to start negotiations yesterday. house speaker republican john boehner says he's willing to compromise on raising some taxes to reduce the deficit. but only in conjunction with entitlement reform. vice president biden says the white house is willing to compromise as well. and local leaders are starting to weigh in. >> i think there is a huge opportunity that has to be seized in congress between now and the end of the year to find a path forward so that we can avoid some of the catastrophic consequences of either deep sequestration cuts or willynilly expiring of the bush tax cuts. >> that was tim kaine clearly signals he thinks a deal can be done by the end of december. in the meantime john delaney joined 9news now last night. he thinks it's the job of the new incoming congress to solve the debt problems, and he's hoping lawmakers on capitol hill will avoid the big decisions now and defer until new lawmakers can be sworn in. that's going to be a huge debate we're going to see over the next couple of weeks. do they do a deal now or kick the can down the road to allow the next congress po
boehner disagrees. >> the problem with raising tax rates on the wealthiest americans is that more than half of them are small business owners. >> on tuesday night we found out that the majority of americans agree with my approach. i'm not wedded to every detail of my plan. i'm open to compromise. i'm open to new ideas. >> the president is asking the congress to sign off on an extension of the middle class tax cuts right now while both sides work to reach an agreement on the more contentious issues. because of the impending financial doom and gloom, virginia state agencies are looking to cut their budgets by 4% as directedly the governor thursday. peggy fox -- directedly the governor thursday. peggy fox spent the day tracking how those cuts could affect the cities and counties in virginia. >> we still haven't recovered from the last recession, but washington was not as harshly impacted as other parts of the country because federal spending kept people employed here, but now ironically instead of our salvation that, connection could be a curse. schools in northern virginia could take a h
between now and the first of the year. >> and on the house side, it's clear that boehner is sending a message to fellow republicans in the house who have got to make extra steps that we didn't before. >> i think that's true. and i think the president has responded by saying that i'm not whetted to the idea of tax rate increases. i'll settle for more revenue if that's what i can get. >> you got senators reid and mcconnell to actually sit together. >> it was like arranging the paris pease talks or the camp david talks. it wasn't easy. >> were they as uncomfortable as they looked sitting next to each other? >> yes. >> and what did you learn from that? >> well, i think that -- what can you say? they don't strike me as two guys that are -- can sit down in a room over a whiskey and kind of work things out. they're very locked in their ways and they are both political tacticians. that's what they do. >> they are brilliant political tacticians. anybody who knows senator mcconnell and reid knows that. they're both very good at what they do, and outmaneuvering one another, which raises the qu
Search Results 0 to 23 of about 24 (some duplicates have been removed)

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